Written by Yunus Abdulhamid
Chairman of the Nigerian Electricity Regulatory Commission (NERC) Dr Sam Amadi has explained that investors in the power sector who have been issued licenses by the commission stand a chance of using their license for a cumulative 25 years before they expire.
Although, Section 71(10) of the Electric Power Sector Act 2005 provides that a license shall be valid for a period not exceeding 10 years, and an extension by NERC for five years, Amadi said “Section 72 (1) guarantees the licensee a cumulative license of 25 years.”
This is made up of initial 10 years grant, a five year extension and another 10 years upon renewal.
Speaking in Abuja at the transaction signing ceremony between the federal government and investors in the power sector, Amadi noted that the NERC reserves the power to interpret the provision of the act establishing it.
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